8Extension and termination of tariff cap conditions
(1)The tariff cap conditions cease to have effect at the end of the year 2020 unless the statement published by the Secretary of State in that year under section 7 is to the effect that the conditions are not yet in place for effective competition for domestic supply contracts, in which case the tariff cap conditions have effect for the year 2021.
(2)If the tariff cap conditions are extended by virtue of subsection (1), they cease to have effect at the end of the year 2021 unless the statement published by the Secretary of State in that year under section 7 is to the effect that the conditions are not yet in place for effective competition for domestic supply contracts, in which case the tariff cap conditions have effect for the year 2022.
(3)If the tariff cap conditions are extended by virtue of subsection (2), they cease to have effect at the end of the year 2022 unless the statement published by the Secretary of State in that year under section 7 is to the effect that the conditions are not yet in place for effective competition for domestic supply contracts, in which case the tariff cap conditions—
(a)have effect for the year 2023, and
(b)cease to have effect at the end of that year.
(4)On the tariff cap conditions ceasing to have effect as provided by this section, the functions of the Authority under section 1 cease to be exercisable.